Lifeboat Inc

“Greg Palk, Reed Horsley, Ricardo Cornejo Rivas, Lisa Murray, Ellen Kerby, and Adam Kynaston-Smith have a business relationship.”

“During 2024, the Organization reincorporated in the State of Nevada and legally dissolved its prior Louisiana corporation. In connection with this reincorporation, the Organization adopted new Articles of Incorporation under Nevada law. In addition, the Organization changed its legal name from Lifeboat, Inc. to LIFEBOAT Foundation USA. These actions constitute significant changes to the Organization's governing documents. During the process of reincorporating in Nevada and dissolving the prior Louisiana corporation, the Organization's governing board and officers maintained continuous oversight of operations. No interruption in management or control occurred. The same directors and officers who managed Lifeboat, Inc. continued in their roles with LIFEBOAT Foundation USA.”

“An independent accounting firm prepares the Form 990. The draft Form 990 is presented by the organization's officers to the governing body at the organization's weekly Board meeting for approval before filing.”

“The conflict of interest policy applies to all trustees, principal officers, or members of a committee with Board delegated powers. All trustees are sent an annual disclosure questionnaire. During the course of doing business, if conflicts are suspected by anyone, they are encouraged to notify the organization of their suspicions. To ensure the organization operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, period reviews shall be conducted.”

“The Organization does not have employees of its own. All management and essential duties are performed by Caesars employees on a volunteer basis.”

“The organization does not make its governing documents, conflict of interest policy, and financial statements available to the public. The Form 990 is available to the public through Guidestar and the IRS website.”

“Officers are elected annually by the Board of Directors. They are not compensated and serve in a volunteer ex officio capacity only. Officers do not have voting rights on any matters before the Board.”

“Emergency relief fund for Caesars employees and their families suffering from catastrophes or hardships.”

“The organization receives incidental rebates and float income from its prepaid debit card program, which is used to distribute charitable aid to beneficiaries. These receipts are unrelated to the organization's exempt functions but are excluded from unrelated business income under IRC Sec. 512(b)(1)-(2).”